Monday, January 12, 2009

from Financial News2.blogspot.com:

Prosecutors have been trying to put Madoff behind bars since last week. That's when the U.S. Department of Justice filed documents to Ellis accusing Madoff of shipping five packages containing more than $1 million worth of diamond-studded jewelry to family and friends, in violation of bail.

Prosecutors said last Wednesday that Madoff was trying to protect these assets - which included 15 watches, four brooches, necklaces and rings - from seizure, preventing alleged victims from recovering their losses.

Last week, defense lawyer Sorkin said Madoff didn't know he violated bail when he mailed these "sentimental" items, and that some of the packages were actually sent by his wife.

Prosecutors on Thursday urged the judge once again to revoke bail, accusing Madoff of planning to transfer up to $300 million worth of assets - including 100 signed and ready-to-send checks found in his office, totaling $173 million.

But on Monday, the judge released a statement saying "the new information provided by the government does not demonstrate either a serious risk of flight or serious risk of obstruction of justice."

So, I am sending out a simple question.....in your opinion, do these actions demonstrate a flight risk or obstruction of justice?

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